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republicans must do more than simply avoid the fiscal cliff to get america pause economy growing again. >> there is still the degree of uncertainty. investors, entrepreneurs households, are not making decisions because they do not know what tomorrow will be. >> but washington's top republican leader, house speaker john boehner, complains there has been no progress in avoiding even immediate crisis. >> when it comes to the fiscal cliff disrupting our economy and threaten jobs, the white house has wasted another week. >> democrats shona signs of backing off from supporting the president's hard-line stance on raising the income tax rate on the rich. >> we realize there have to be two sets to the bargain, but we are not going to go back to what we did in 2011 putting both revenues and cuts on the table. >> despite the impasse in washington promising signs the economy might be improving -- more job creation, improvement in the housing sector, and a decrease in household debt. solution -- spending cuts combined with an increase in tax revenue. >> talks about the fiscal cliff and the meeting
in sight for the fiscal cliff hanger. >> when it comes to the fiscal cliff threatening our economy and jobs the white house has wasted another wee>> why speaker says the president's my way or the highway approach is getting us nowhere. >> the feds are borrowing nearly a billion dollars a day. so why is the white house saying reducing our debt not really the goal? >> thank you, eric, it's the most watched video on the internet of all time. he is set to perform for the president. gangnam style said about our soldiers a few years ago. that controversy kicking up this morning. "fox & friends" hour one begins right now. >> get out the coffee. wake up, everyone, thank you so much for waking up with tus, it is "fox & friends" on this saturday morning. dave bowling in for dave briggs. >> come in and do the show with us today. more filling in today than the regulars. we are glad to be on with you clayton. >> you are on an interesting morning because congress now just 23 days left, 23 days until we head off that flif. fiscal cliff. if you listened to speaker boehner yesterday he is reading reports th
is overblown. will a failure by washington to avert the fiscal cliff mean catastrophe for the u.s. economy? i'll debate with richard quest next. zza!!!!! [ garth ] olaf's small business earns 2% cash back on every purchase, every day! helium delivery. put it on my spark card! [ pop! ] [ garth ] why settle for less? great businesses deserve the most rewards! awesome!!! [ male announcer ] the spark business card from capital one. choose unlimited rewards with 2% cash back or double miles on every purchase, every day! what's in your wallet? (announcer) when subaru owners on elook in the mirror,y day! they see more than themselves. so we celebrate our year-end with the "share the love" event. get a great deal on a new subaru and 250 dollars goes to your choice of five charities. by the end of this, our fifth year, our total can reach almost 25 million dollars. it's a nice reflection on us all. now through january 2nd. and his new boss told him two things -- cook what you love, and save your money. joe doesn't know it yet, but he'll work his way up from busser to waiter to chef before opening a re
. the -- the economy is going into recession in new year. lou: do you believe there is no way to avoid the fiscal cliff.
cycle. watch this whole fiscal cliff dial backfire. the -- the economy is going into recession in new year. lou: do you believe there is no way to avoid the fiscal cliff.
to the fiscal cliff that is threatening our economy and jobs the white house has wasted another week. secretary geithner came here to offer a plan that had twice the tax hikes that the president campaigned on and had more stimulus spending than in cuts. and an indefinite increase in the debt limit like for ever. now four days ago we offered a serious proposal based on testimony of president clinton's former chief of staff. since then there has been no count offer from the white house. instead reports indicate that the president has adopted a deliberate strategy to slow walk our economy right to the edge of the fiscal cliff. instead of reforming the tax code and cutting spending, the president wants to raise tax rates. but even if the president got the tax rate hike that he wanted, understand that we would continue to see trillion dollar deficits for as far as the eye can see. washington has got a spending problem, not a revenue problem. if the president doesn't agree with our proposal, i believe he's got an obligation to families and small businesses to offer a plan of his own, a plan that can
? >> absolutely. we can't allow to us go off the fiscal cliff. it would be disastrous for our economy, a self-inflicted wound. we've got to get it done and compromise and i think we should stay in a locked room until it's done. >> what about taking it a if he further, your paycheck. i get -- a step further, your paycheck. i get viewers that write in all the time and say hey. take their pay. >> that's not going to solve the fiscal cliff. >> that would give you some incentive, wouldn't it? >> just lock us in a room and we'll get it done. >> gerry connolly said look, the atmosphere up there now is a lot like the old high school lunch room with competing groups that don't really talk to each other. he said that's what it's like in the house do. you talk to your friends on the other side of the aisle in the senate? >> absolutely. we've had meetings every day. i'm convinced that we can find a way to come together and reach a compromise on this. we understand what it's going to be. we understand there's going to be some pain for paul of us, but it's going to be good -- all of us, but it's going to b
and academia the cost the middle class perspectives on the economy and the fiscal cliff. this is an hour. what were you going to say? what's i think they go hand in hand. from a business perspective, large corporations are sitting on lots of cash. they are uncertain of what the future will bring. that is the economic future, but the future of tax policy and the rest of that. that is keeping the economy back. if we can reach a deal where we are not coming to blows every six months or one year on what tax policy will look like for another six months, that will give us confidence and will create jobs people want. i am not sure if there is a bifurcation between what washington is focused on and what people want. i think this is about jobs and economic growth. >> i did find one thing surprising. behind retirement programs, social security and medicare, seems to be job creation, deficit reduction was off of the table. what came in the third or fourth every time and then to about six questions in terms of what is on people's mines is the extent to which higher education is available and to the extent
. at the live desk, melissa mollet, news 4. >>> today we could see the impact, the threat the fiscal cliff is having on our economy, even before the end of the year, the labor department will release its november jobs report this morning. many economists believe fewer than 100,000 new jobs were created this month. that may be because companies are waiting to hire more companies until after the financial crisis is resolved. superstorm sandy likely had an impact on the unemployment rate economisted expect the unemployment rate to remain at 7.9%. >>> president obama says this northern virginia couple is proof that lawmakers must come to an agreement on a budget deal by the end of the year. he met with tiffany and richard santana yesterday. living with tiffany's parents to help make ends meet. she wrote about her struggles to the white house as part of a social media campaign. >> we live with an extended family. we have two sets of adult incomes in our home. it would be more like a $4,000 tax increase for us, which would be relatively devastating for our family. i wanted to share that with the
of going over the fiscal cliff is overblown. it will get done. an 11th hour deal. john, as you read the politics at play, what do you see? >> i see both sides digging in. you've just played the president saying i want that rate hike. the republicans are saying mr. president, we'll give you the revenues, but not through a rate hike, but the president believes he won the election and he's upped the ante. says he wants twice as much in tax revenues than a year and a half ago, so the president believes he has the higher ground. i think maybe the democrats have a deeper trench, if you will. they have public on their side. but if you talk to people in washington, there's still this sense that at a last minute, reason will prevail, but there's not a lot of optimism. you know this and my colleagues know this, more and more people are talking about the threat. not only if you don't deal with this, you'll send the united states back in a recession, but that the global economy is teetering. they're in their political vaults and maybe blind to the political stakes. >> ken, let me share somethin
that could make 2013 a great year for the u.s. economy. is the doom and gloom surrounding the fiscal cliff actually obscuring an economic resurgence? nited unlocked. nyse euronext. unlocking the world's potential. at the chevy year-end event because chevy's giving more. more efficiency with sonic and cruze... more function in equinox and traverse... more dependability with the legendary silverado... and more style in the all-new malibu. chevy's giving more at the year-end event because 'tis the season. chevy's giving more. this holiday season, get a 2013 cruze ls for around $169 per month or get $500 holiday bonus cash. >>> a positive jobs report on friday serves as another reminder that the fiscal cliff may be obscuring the fact that america may be poised for an economic renaissance, jobs are being created, consumer debt is shrinking, goldman-sachs said in spite of -- forget silver linings, housing's been the golden lining around the economic dark cloud. home affordability is as good as it been in generations. that's going to be good for buyers who have been waiting for these prices to bo
. when it comes to the fiscal cliff threatening the economy and jobs, the white house has wasted another week. eight days ago the treasury secretary came here to offer a plan that had twice the planned tax hikes the president campaigned on. more stimulus spending than the added cuts, and did and didn't but net -- in definite increase on the debt limit. four days ago we offered a serious proposal based on testimony of president clinton's former chief of staff. since then there has been no counter offer from the white house. instead, records indicate the president has adopted a deliberate strategy to slow walk our economy right to the edge of the fiscal cliff. intent of reforming the tax code, the president wants to raise tax rates. even if the president got the tax rate hikes he wanted, understand we would continue to see trillion dollar deficit for a start -- far is that i can see. listed, washington has a problem spending, not the revenue problem. the president does not agree with our proposal. i believe is an obligation to families and small businesses to offer a plan of his own, a pla
to be 33%. the winner, the fiscal cliff, 35%. what are people saying about the fiscal cliff? we have people write in, and i believe that's what we'll look at next. we'll look at the probability of a u.s. recession. that has come up. in part because of the fiscal cliff concerns. it was 19% back in march. a high of 36%. so we're halfway between the low and the high pretty much. this is a 13-month high for the probability of recession. now we want to show you what people are saying about the fiscal cliff, allowing the economy to go over the cliff would be extremely reckless, says donnelly. they're going out to try to help the unemployment rate. wall street doesn't believe it's going to happen. they do believe it will help lower mortgage rates and the unemployment rate and not a lot of help expected for the stock market. melissa? >> steve, thanks for that. that's interesting stuff there. >> nothing like getting your blood pressure up. liesman testing you live on tv. >> what do you think? wrong, wrong. brought back bad memories, huh, carl? 2013 housing market outlook this morning, according to t
really wants to avoid sending the economy over the fiscal cliff, he has done nothing to demonstrate it. the position of congressman tom cole, that the party should agree immediately to extend the bush tax rates for americans making less than $250,000 a year is the best of a bunch of bad choices for the gop. >> the g 0 op is boxed in saying it's a terrible position because by default democrats get what they want. a big bargaining chip for house republicans is they need congress to raise the debt ceiling before the end of february when analysts estimate the treasury would run out of options and hit the borrowing cap. no deal is reached. closer to the deadline and today they will argue that's bad for business. help in supporting an approach without drama or delay a. >> we can't be going through another debt crisis, debt ceiling crisis like in 2011. that has to be dealt with. >> the president of the business roundtable has said congress should raise the debt ceiling enough for the next five years to avoid uncertainty. clearly that's something that won't happen. short term spending cuts sho
as president obama drives our economy toward the fiscal cliff, i'd like to share with you some remarks he made during his fiscal responsibility summit held on february 23, 2009, at the white house. the president said, and i quote, we cannot and will not sustain deficits like these without end. contrary to the prevailing wisdom in washington, these past few years, we cannot simply spend as we please and to further consequences to the nks budget. the next administration or the next generation. we are paying the price for this budget right now. he continued, in 2008 alone we paid $250 billion in interest on our debt. one in every 10 taxpayer dollars. that is more than three times what we spent on education that year, more than seven times what we spent on v.a. health care. if we can fraught this crisis without confronting the deficit that caused it, we end up sifpking into another crisis down the road as our interest payments rise and obligations come due. our children and grandchildren are unable to pursue their dreams because they are saddled with our debts. that's why today i'm pledging to cut
no deal. >> the president wants more revenue and fewer spending cuts then if we fell off the fiscal cliff. >> pulling the rug out from under these families would delay the recovery. how do we get the economy moving? weekly unemployment claims spike. governor chris christie pressed president obama for additional aid. >> i am going home, guys. >> hiring plans plans last month. matching a record low from november of 2008. planned layoffs rose 20% to their highest levels in six months. consumer spending is down. >> i want to thank tiffany. >> the fiscal cliff negotiations are down to president obama and john boehner. the uncertainty could take a toll. >> it hasn't affected hiring and layoff decisions yet but it will if we get into next year and haven't nailed this down. >> on monday the president travels to michigan to talked economy at a diesel plant. >> why is superstar sandy plain such a role in the jobs report? >> 24 states were affected one way or the other. businesses had to shut down. between the fiscal cliff and senate come when my has seen it up to 200,000 jobs added. instead we're l
the holidays, he said absolutely. >> we can't allow us to go off the fiscal cliff. it would be disastrous for our economy. it would be a self-inflicted wound. we've got to get it double. woaf' -- done. we've got to compromised. yes, i think we should stay in a locked room till we get this done. >> you can stay up to date on e fiscal cliff any time on our website click on the fiscal cliff tab on our home page for more stories on how the cliff could impact you. >>> prince george's county police made an arrest wednesday -- made an arrest in wednesday morning's murder of a teenager in lewisdale. the suspect jose nunez is facing murder charges now. 14-year-old eliezer reyes was killed during a drive by shooting. they. they think this murder is gang related. >>> in virginia prince william county police are searching for a masked sexual predator. the man tricked and assaulted a hotel clerk at the econolodge in woodbridge earlier this week according to police. they say it appears the man phoned his victim, pretended to be a guest locked out of a room. when she went to help, the masked
dice sell truck engines. he's going to talk about the economy and fiscal cliff within the hour. we'll go to that live. >>> first to florida. that's where we learn new details about a long running mystery. in the town marianna and they have found more grave sites on the grounds a school that closed last century. nobody knows how many boys may be buried there and what abuse he suffer the at that school. ed lavandera spent years investigating the story, and he has the details. >> a mystery haunting the ground of this now defunct school for boys in marianna involving teenage boys sent here decades ago, some never seen again. in recent years former students in "twilight" years have come forward with horrific stories of punishing aaabuse doled out by school leaders and friends that vanished, stories told by cnn. they accused former school leaders of beatings, sexual abuse and even murder. which brings us to this cemetery on the school's grounds. the bodies of 31 boys are buried here. florida authorities claim they know how all the boys died, some killed in a fire and symptom in a flu epi
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the economy from going over the fiscal cliff. >> all right. then crunch time. we all have the nfl week 14 action. as the the playoff picture starts to come more into focus. >> big, big football weekend right. >>> later, up for auction, a classic piece of casablanca's rich history is being sold 70 years later. i love that story! >> that's a great movie. first, family and friend mourning the loss of jenni rivera, a superstar of latin music. >> the so-called diva rivera had finished a concert and was on the way to another when her small plane crashed. abc's larry jacobs as the story. ♪ >> reporter: bewilderment and sense of loss among jenni rivera's fans in the los angeles area following news of the singer's plane crash in mexico. >> i think pretty devastate ford a lot of people. >> reporter: the mexican-american singing superstar was traveling in a jet early sunday morning when co comptrollers lost contract. mexican official say they have found the wreckage but no survivors. >> right now it is confirmed the plane went down. the plane is totaled. it's, nobody inside survived. >> reporter:
. richard and eun? >> danella, thank you. >>> today we could find out if concerns over the fiscal cliff are taking a toll on the unemployment rate. the labor department will release its november jobs report. economists expect the unemployment rate to remain at 7.9%. they believe the economy added fewer than 100,000 jobs last month. some think that that number could be fewer than 50,000. they say companies may be waiting to see if we plunge off the fiscal cliff before hiring more employees. economists say superstorm sandy also likely slowed job growth last month. negotiations on a budget deal will continue today. meanwhile, president obama says a northern virginia family is proof that a deal must get done before the end of the year. he met with tiffany and richard santana yesterday. the middle class couple is living with tiffany's parents to help make ends meet. she wrote about her struggles to the white house as part of a social media campaign. >> at first it was just that white was going to come and get a little more information about our story, and we really thought it was g
walks this process the closer our economy gets fought fiscal cliff. -- gets to the fiscal cliff. here's what we know. we know that the president wants more stimulus spending and an increase in the debt limit without any cuts or reforms. that's not fixing our proble frankly, it's making it worse. on top of that, the president wants to raise taxes on many small business owners. now, even if we did exactly what the president wants, we would see red ink as far as the eye can see. that's not fixing our problem either. it's making it worse and it's hurting our economy. i think the members know i'm an optimist. i'm hopeful we can reach an agreement. this is a serious issue and there's a lot at stake. the american people sent us here to work together toward the best possible solution and that means cutting spending. if the preside doesn't agree with our approach, he's got an obligation to put forward a plan that can pass both chambers of the congress because right now the american people have to be scratching their heads and wondering whe minority leader, ms. pelosi, for five minutes. ms. pel
our economy right to the edge of the fiscal cliff. >> former presidential candidate and vermont governor howard dean says bring it on. going over the fiscal cliff will actually help america. he's going to make his case, very bold statement there, to someone whose company will be decimated by the spending cuts to defense companies. you do not want to miss this confrontation. ricans are alwayso work hard for a better future. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your future. ♪ >>> pretty clear apple stock is having its worst week in more than two years. let's get to bertha coombs with the details. >> tough end of the week ear. it's apple's horrible, awful week. today's decline saw shares hit a real technical weak point, the so-called death cross. that's where the 50-day m
the economy falls a part. >> by mid-february it will do a lot of damage. >> anticipating the fiscal cliff and massive layoffs democrats called on lawmakers to extend jobless benefits that are going to expire this year. 25 days left, no deal yet. republican feel like they might be losing ground. the latest poll shows the majority of voters trust the president and the democratics on the issue. >> mustaches, all part of a penn state photo posted online. >> they are holding two signs that many found racially offensive. >> it is the end for hundred that tick. congress has removed that word from federal law. we will tell you why when we come back. >> baseball lovers rejoice. some major upgrades are on the way for the stadium in hanover. a casey know is pumping in the money and we're hearing the plans include a new scoreboard. officials tell us this is their way of giving back. >> covering the nations tonight penn state is at the center of a new controversy. this time after a photo was taken at a mexican-themed sorority party and the photos popped up online. the campus is under fire for taking t
a 39.6%. that's the washington post this morning. below that, governors say the fiscal cliff would hurt their states' economies. several governors met at the white house yesterday and with political leaders to say something needs to be done or their economies and on the state level will be heard. -- be hurt. let's go to walter in new jersey, independent caller. good morning. caller: good morning. i don't know what's wrong with these people, because they have to come to some kind of agreement. the gop has to give ground, taxes wouldybody's go up just to save 2%. it just does not cut it. it is a bad move politically and bad for the country. host: polloi in johnsonville, virginia. -- floyd. caller: i was thinking about the fiscal cliff. i don't think that's the problem at. the problem is when we fell off the moral cliff. our president said gay marriage was ok. and america killing so many babies. side,e get back on god's everything else will take care of itself. that's the way it is. a guy said it seemed like christians are down and out. let me tell you, christians are the happiest people t
. this will boost it further >> bill: car market, about 13,000,000. unless the fiscal cliff screws it up, we should be back over 14 before a short period of time. this shows positive momentum in the economy. this comes the month after the election. right? >> right. >> if this had come before the election. whoa, obama would have won. >> he is going to win reelection now that these numbers are out. >> if jack welch is apoplectic about the other number what would he have thought about this? how would mitt romney spin this as bad news? he would find some way. >> one thing, you mentioned hurricane sandy, in the labor department's numbers they released, they did mention hurricane sandy did not substantively impact jobs data. they pointed that out. >> that shows a lot of economists don't have a clue what they are talking about. >> get out. >> nice to have been working with you. that was the expectation. >> i understand where that would come from. you know there was tremendous dislocates. a lot of people could not get to work. right? mayor their jobs maybe didn't ex
't think it's a good idea at all to go off the fiscal cliff. >> first of all, two questions, would you be willing to work through the christmas holiday to make sure this gets done? >> absolutely. >> second question, what about foregoing any pay until you solve this problem? >> well, the problem with that is there are 535 of us and i'm willing to solve the problem and compromise. i don't want to be penalized because of somebody else. >> fair enough. congressman connolly, we thank you for being here. i take it that means you want to keep collecting your paycheck. >> i want to get something done for the american people and in congress of two years the people get to throw us out of office if we didn't do our job. >> thank you, fair enough. glad you got that cough under control. tomorrow maryland senator ben cardin will be here and talk about fiscal cliff as well at 7:00. you can send in questions to or leave a post on the wusa9 facebook page. >>> if you want to blow up a bank atm, you better bring a lot of firepower. around 4 a.m. this morning somebody tried to blow open
. the economy is improving on its own right now. and getting some much stronger. the impact of the fiscal cliff, while not something to be encouraged, may not be as bad as many have thought. and certainly is not worth making bad policy that will have much longer-range implications. the debt ceiling. the second issue. another kind of artificial date. it has been in law for decades. congress periodically has a partisan debate over whether to extend it. an interesting debate since there really is no option. you either extend it or you default. the fault should not be an option. it is something that should be avoided at all costs. but we put this critical date in there so we can have the debate, have a vote and then extend the debt ceiling as we know we have to. finally we have the issue of the debt and deficit in the long run. the issues of real importance. we do not account for our expenditures the way businesses do, the way individuals have to. we get to account for them and ignore many of the long-term implications. if we were to put them in, it would increase the amount of the debt we owe and
. >> reporter: anticipating the fiscal cliff and massive layoffs that could come with it, democrats called on lawmakers to continue an extension to jobless benefits expiring this year. >> now they're at risk of losing their last lifeline. >> reporter: 25 days left, no deal yet. republicans are worried they may be losing ground on the tax hike debate. and a new poll shows the majority of voters trust the president and democrats on the issue. reporting live on capitol hill, danielle lee, news4. >>> polls show many americans want hillary clinton to run for president in 2016, but that doesn't seem to be on top of her to-do list as she steps down as secretary of state. mrs. clinton is in dublin ireland, today on one of one of her last foreign trips. she admitted she's looking forward to the quiet life. >> i'm, frankly, looking forward to returning to living a life that enjoys a lot of simple pleasures, and gives me time for family and friends and other pursuits. >> mrs. clinton was also asked if president clinton will become the new ambassador to ireland. she said her husband will continue the
an economy. it was proven over and over again. that is the model for this fiscal cliff discussion, making both the cuts and the reforms that are real and credible and politically difficult to reverse. that is the only signal we can send. it is the right signal to send to investors that we're serious about getting our financial house in order. chairman, thank you. this is your last committee meeting and you will be missed. >> going back to the analogy of the avalanche, when we had the subprime crisis, and there was no warning. likewise, we did have the same type of avalanche come tomorrow. there is no more confidence, nobody buys are debt. -- buys our debt. we would have increased interest rates and huge economic problem. we have two things in front of us. not only the fiscal slope, but also the debt ceiling. treasury estimates at the end -- we have until the end of february. in solving it, would be better to put the debt ceiling in the package with the fiscal slope for a comprehensive solution? or would it be better to do them separately? >> they should be done together. this will not wor
asked general electric chairman and ceo jeff immelt for his thoughts on the looming fiscal cliff and the impact it could have on the u.s. economy. >> i'd make a couple comments. we've got to get this done now. not there are people who write and go on news shows and say we can let it lapse two weeks. that is specifically not true. we need this to get resolved now. not because because jim mcnerney will say it or jeff immelt will say it, but the millions who work for us, their lives are in flux. this is incredibly credible that we get it done now. we need revenue. everybody knows we need revenue. >> i think the president is right in asking for more revenue and therefore not extending the bush tax cuts to those with more than $250,000. >> bowles-simpson, there's not been one commission that says we can do this just on spending cuts. there has to be revenue. i think speaker boehner is the only guy that can lead us in that. >> that means you've got to take the republicans from the house of representatives and make the deal. >> and i trust that he could do it. >> we'll have more of that
to visit with a family staring over the fiscal cliff. >> reporter: sean and jody watson have four daughters ages five to 14 and know all too well the sacrifices and sleepless nights endured by middle-class families in a struggling economy. >> we don't go out to eat much. we don't spend-- we don't go to the movies much. >> we do a lot of thrift store shopping for my kids for clothes. >> reporter: shawn was unemployed for a year in washington state then two years ago he got a job as an accountant with the federal government so the family of six-- their savings depleted-- moved across the country to woodbridge, virginia. his salary of a little more than $70,000 is less than what he used to make. >> before we lost our job they were in-- two were in piano and we haven't been able to do things like that. >> reporter: what's the hardest part of this? >> for me it's my kids, knowing that i want more for them. my oldest, who's the one that's most aware of what we've been going through the last couple years she asked me recently, this summer, she's like "mommy, when are we going to stop feeling like
at when they look at the entirety of the fiscal cliff, and they have determined that this could drive the economy into negative for story, meaning back into a recession. that's the last thing we want to see. along the lines of growth, we need to be sure that we're not doing something here short term that puts the economy back in a position where we're not generating the kind of revenue because of the lack of growth to be able to deal with these issues and to be able to get these unemployment numbers down. in my view, this recovery is not your father's recovery, it's different in kind. it's different than any recovery we've had in this country. if you look at even the recovery in 2001 to 2003, that time period, recall we called it then the jobless recovery. and yet by this time in that recovery we'd already brought back 2.6 million jobs. so at this point after the recession began, 2.6 million jobs had returned. and that was considered jobless. if you look back at the recovery after the 1980 and '81 recession which was a recession that was also deep, in fact, unemployment was higher tha
be directed to new spending instead of deficit reduction. the fiscal cliff must be averted to protect our economy for future generations. yesterday, house speaker john boehner asked the president to identify specific cuts he's willing to make for a balanced approach. i hope the president will take immediate action so progress can be made for a bipartisan solution. in conclusion, god bless our troops and we will never forget september 11 and the global war on terrorism. the speaker pro tempore: the time of the gentleman has expired. the chair recognizes the gentleman from new york. >> i ask unanimous consent to address the house for one minute. the speaker pro tempore: the gentleman is recognized. mr. mig-ins: mr. speaker, there are many lessons to be learned in the wake of the hurricane that devastated parts of new york and new jersey. one of which is the importance of electronic medical records and health information technology. while many hospitals and medical centers were damaged by the storm, hospitals that employed electronic medical records were able to ensure that vital health info
an agreement that helps us avoid the so-called fiscal cliff and also achieves the broader deal which would address this longer term deficit challenge that we face in a way that helps the economy grow and create jobs. that's our focus at the moment. and we believe there is time. yeah. >> the clock is winding down on secretary clinton's time at the state department. she's expected to leave at the end of next month. and there's been a lot of speculation that a decision would have been made now on who would replace her. what is the holdup? >> there's no holdup. the president has made no decisions and i have no personnel anougesments to make -- announcements to make. >> about the decision to allow corporate donations for the inaugural festivities, why did the president change his mind on that? >> i would refer to you pick which has been set up and i think is taking questions on that. i haven't had that discussion. >> the president was part of the transition committee in 2008 and 2009, when they announced that the reason they were settinging new limitations was -- [inaudible] to put the country
. >> as we continue to try to solve the fiscal cliff, the thing we have continued to look at is our economy. today in the whip's office we will have small family-owned businesses in there and talk about ways to protect the family business, continue to grow while at the same time make sure we solve this fiscal cliff. look, each and every day as we walk the halls, you continue to ask the questions. you want the answers to solving the fiscal cliff. we put the offer on the table and the president now has to engage. the next 72 hours are critical. if he sits back and continues to play politics, that will give you the answer of where we're going. this is the opportunity for the country to lead and opportunity for the president to lead. >> as these fiscal cliff negotiations and debate continues, i think it's important to remember that washington doesn't have a revenue problem, it has a spending problem. and under this administration, under president obama, we have seen record deficits and a record debt accumulate, and yet he keeps demanding that we have seen record deficits and a record debt accum
this discussion, the closer our economy gets to the fiscal cliff and the more american jobs are placed in jeopardy. >> good morning. lings -- the president said on a daily basis that we should be passing a balance plan. but we continue to hear only discussion on one side of the ledger. it's always been about tax rates increases and nothing about spending. we insist, let's talk about a balanced plan, where are your proposals for spending cuts. even his advisors say any agreement we come to has to include entitlement programs. we ask the president, please, sit down and be specific with us. let's get that balanced plan. it's interesting the senate passed a bill. the president continues to say support that bill, pass that bill. how is that the case when he continues to say we also need $1.4 trillion in additional new revenues. there's an inconsistency here. let's stop playing gapes. we want to be here for the american people and we want to make sure that we get a balanced solution so that we can start focusing on the one thing that we have seemed to have forgotten, and that is, it's about jobs and the
to grow. >> is it possible that this whole debate and the fiscal cliff, whether or not we go over it or not, would bakt how many people are working the next year? >> it will definitely impact, but i think what the numbers are telling us and what we've seen for the last couple of months is that the affect will not be as great as most people are predicting. you know, we kind of got this y2k kifr syndrome that's going on. it will certainly have an affect, but it also means that we can -- we're in a position to really craft a real comprehensive way to -- >> are these good jobs? what kind of jobs are these? >> they are. it's interesting. if you look at whether jobs are created, most of them are administrative management kind of jobs, but people are being re-employed at a much lower salary than the jobs that they had when they were unemployed, and they're also coming back into part-time jobs. >> all right. it's a mixed picture. >> it is. >> i know you have always been predicting a good -- we're always happy when you are right. thank you, danny. >> okay. >>> a labor issue that is drawing
weeks, we must avoid driving the country over the fiscal cliff. no partisan ideology is worth the cost to the nation. but just averting disaster and kicking the can on the tough structural decisions needed to place our economy on sound footing for the future is not enough. we are calling for a framework to build out over the last ten years to reduce the deficit and restructure the fiscal policy. succumb as eventually to bring the budget into balance they must raise more revenue and encourage growth we must include parameters defined and future levels of debt as a share of the gdp and a date by which the budget will balance. and it must include changes to the discretionary spending, entitlements as well as defense. the elected leader should launch and extradited process to enact the legislation that will construct this remark in 2013 and putting powerful, the appropriate defaults and enforcement mechanisms. without a recalibrating sustainable fiscal policy, the united states international standing will decline and its national security will be undermined. such an outcome would be bad fo
with the fiscal cliff and dealing with our debt situation and not have a debt ceiling hanging out there as a diversionary but dangerous issue. but for some reason, inexplicable, the minority leader, the republican leader, changed his mind. now, he said on the floor well, important measures deserve 60 votes, but when he brought it up earlier, he acted as if he was in favor of it, he was offering it. and now, of course, essaying no, he's going to object to his own resolution. i wish he would reconsider. again, playing -- using the debt ceiling as leverage, using the debt ceiling as a threat, using the debt ceiling as a way to achieve a different agenda is dangerous. it's playing with fire. and yet, with the opportunity to take that off the table, reassure the markets, the minority leader blinked. i don't know why. it's hard to figure out the strategy that he's employing, but we would hope on this side of the aisle -- and i think i speak for all of us -- that he would reconsider and perhaps early next week let us vote on his own resolution. i yield the floor. mr. schumer: i notice th
a deal on the fiscal cliff or else automatic spending cuts and tax hikes will kick in and with the fiscal cliff looming, our consumers feeling at all concerned? christine romans joins us now from new york with that. good morning, christine. >> good morning, ted. first, let me tell you what's going right in the economy for consumers. there's a whole host of things. the job markets, 7.7% unemployment, the lowest in four years. you've got the housing market showing signs of recovery. rising home values in much of the country. gas prices, did you notice? they're down 46 cents over the past couple of months. they're expected to keep going lower and the dow is up 20 points now. the dow is above 1,300 and the s&p 500 is up 12% this year. so, what could go wrong? fiscal cliff. this is something weighing op consumer sentiment and we're starting to see it in the weekly -- look at this -- 39% said it would affect it some. they don't seem to have much faith in congress to fix it and any time except 11th hour and maybe a week into the new year and there's this payroll tax holiday that most people have
in people's pockets, which helps the economy and the unemployment weekly payment is not enough to make anyone comfortable and lazy, but it does cost money. so, that is one of the many things in the fiscal cliff discussions that we also have to deal with. the social security payroll tax holiday that we have had for two years -- they have to decide whether to extend that by december 31, and there is also the issue of the alternative minimum tax, which is designed to make sure that everybody pays something in income tax, especially among the wealthy who might use deductions to bring their tax payments down to zero. the problem is the alternative minimum tax has been affecting more and more middle-class people, and the irs in particular is eager for congress to take a stand on patching up the minimum tax by december 31 because mostly they have to program their computers. host: the amt was part of our series on the different aspects of the fiscal cliff talks. you can go to our web site to find more details. today, the discussion is about domestic spending. if sequestration happens at the en
president obama's proposal on the fiscal cliff to show that neither he nor democrats in congress are acting in good faith in these negotiations. with just a few weeks to go before a potentially devastating and entirely avoidable blow to the economy, the president proposed a plan that members of his own party won't even vote for. so i think it's safe to say at this point that the president actually isn't interested in a balanced agreement, he's not particularly interested in avoiding the fiscal cliff, and he's clearly not interested at all in cutting any spending. what the president is really interested in, as we learned just yesterday, is getting as much taxpayer money as he can, first, by raising taxes on small business that he believes are making too much money and then on everybody else, not so he can lower the debt or the deficit but so he can spend to his heart's contefnlts for months the president has been saying all he wants is to raise taxes on the top 2% so he can tackle the debt and the deficit. however, yesterday he finally revealed that's not really his true intent. by demanding
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